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Report No. 26

81. Credit to Government of unclaimed dividends.-(1) Where the Official Assignee has, under his control, any dividend which has remained unclaimed for fifteen years from the date of declaration or such less period as may be prescribed, he shall pay the same to the account and credit of the State Government, unless the court otherwise directs.

[New] [Cf. section 122, P.T.A.]

(2) Any person claiming to be entitled to any monies paid to the account and credit of the State Government under sub-section (1), may apply to the court for an order for payment to him of the same; and the court, if satisfied that the person claiming is entitled, shall make an order for payment to him of the sum due:

Provided that, before making an order for the payment of a sum which has been carried to the account and credit of the State Government, the court shall cause a notice to be served on such officer as the State Government may appoint in this behalf, calling on the officer to show cause, within one month from the date of the service of the notice, why the order should not be made.

[Section 153, English Act] [Cf. section 123, P.T.A.]



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